Iskandar secured RM10b investments in third quarter

JOHOR BAHARU, Oct 16 — Iskandar Malaysia has secured investments worth RM10 billion in the third quarter of this year, bringing the total cumulative committed investments since its inception in 2006 until Sept 30 this year to RM156.35 billion.

Of the total cumulative committed investments, RM77.17 billion or 49 per cent represents investments that have been realised.

Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin said investors, both local and foreign, as attested from the investment’s figures, were very enthusiastic about Iskandar Malaysia as it continued to take shape.

“We are constantly looking into attracting more investments for the promoted sectors to ensure the quality of life of the people in Iskandar Malaysia is elevated and sustained,” he said in a statement today.

Mohamed Khaled is also co-chairman of Iskandar Regional Development Authority (IRDA).

IRDA chief executive Datuk Ismail Ibrahim said the creative sector continued to grow in the third quarter with an investment from Astro Production Sdn Bhd (APSB) through Pinewood Iskandar Malaysia Studios (PIMS).

“Iskandar Malaysia’s close proximity to Singapore is an added value for APSB to attract international studios based in the republic as its potential clients.

“On top of that, the SME and the hospitality industries in Iskandar Malaysia will benefit from the five-year agreement,” he said.

He said SMEs should capitalise on various assistances such as special funding and investment partnerships unveiled in the 2015 Budget to enhance their participation in Iskandar Malaysia’s development.

Ismail said of Iskandar Malaysia’s total cumulative committed investments, 63 per cent (RM98.85 billion) was derived from domestic investments while 37 per cent (RM57.49 billion) was from foreign investments.

The top five countries with highest investments in Iskandar Malaysia from January to September were Singapore, the US, Spain, Japan and China, he said.

He said IRDA would continue to work with all relevant parties in the government and private sector to ensure investments into Iskandar Malaysia would be sustainable.

“Most important, the investments must not only bring value to the region, but also spur the local socio-economy for the benefit of the local community by providing employment and supporting business opportunities,” he added. — Bernama